FED's Janet Yellen speech boosts the dollar

Friday, 14/10/2016 | 13:41 GMT-0

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FED's Janet Yellen speech boosted the U.S. dollar to appreciate against its counterparts. The EUR/USD traded to 1.1018, dropping 0.36%, still higher though than Thursday's 1.0981 level.

FED's minutes supported the U.S. dollar

Following the FED's policy meeting minutes, the U.S. currency stabilized to high zones amid the majority of the economists and the analysts expecting a rate hike anytime soon in 2016.

The greenback was supported by Thursday's data where the initial jobless claims in the U.S. stood at 246,000.

The USD/JPY pair traded to 104.22, gaining 0.49%, the GBP/USD to 1.2229, sliding 0.21%, and the USD/CHF to 0.9881, climbing 0.19%.

Moreover, the NZD/USD traded to 0.7109, rising 0.17%, and the AUD/USD to 0.7616, appreciating 0.63%.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/fed-s-janet-yellen-speech-boosts-the-dollar

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